EXHIBIT 99.23(h)(18)
NATIONS FUNDS TRUST
FORM OF SHAREHOLDER ADMINISTRATION PLAN ("PLAN")
TRUST CLASS SHARES
Section 1. Each of the proper officers of Nations Funds Trust (the "Trust")
is authorized to execute and deliver, in the name and on behalf of the Trust,
written agreements based substantially on the form attached hereto as Appendix A
or any other form duly approved by the Trust's Board of Trustees ("Agreements")
with broker/dealers, banks and other financial institutions that are dealers of
record or holders of record or which have a servicing relationship with the
beneficial owners of Trust Class Shares ("Administration Agents") in certain
Funds of the Trust (as listed on Exhibit I) offering such shares provided that
any material modifications of services listed in the Agreement shall be
presented for approval or ratification by the Trustees at the next regularly
scheduled Board Meeting. Pursuant to such Agreements, Administration Agents
shall provide shareholder support services as set forth therein to their clients
who beneficially own Trust Class Shares of the Funds in consideration of a fee,
computed monthly in the manner set forth in the applicable Fund's then current
prospectus, at an annual rate of up to 0.10% of the average daily net asset
value of the Trust Class Shares beneficially owned by or attributable to such
clients. Affiliates of the Trust's distributor, co-administrators and adviser
are eligible to become Administration Agents and to receive fees under this
Plan. All expenses incurred by a Fund in connection with the Agreements and the
implementation of this Plan shall be borne entirely by the holders of the Trust
Class Shares of the particular Fund involved. If more than one Fund is involved
and these expenses are not directly attributable to Trust Class Shares of a
particular Fund, then the expenses may be allocated between or among the Trust
Class Shares of the Funds in a fair and equitable manner.
Section 2. The Trust's co-administrators shall monitor the arrangements
pertaining to the Trust's Agreements with Administration Agents. The Trust's
co-administrators shall not, however, be obligated by this Plan to recommend,
and the Trust shall not be obligated to execute, any Agreement with any
qualifying Administration Agents.
Section 3. So long as this Plan is in effect, the Trust's distributor shall
provide to the Trust's Board of Trustees, and the Trustees shall review, at
least quarterly, a written report of the amounts expended pursuant to this Plan
and the purposes for which such expenditures were made.
Section 4. Unless sooner terminated, this Plan shall continue in effect for
a period of one year from its date of execution and shall continue thereafter
for successive annual periods, provided that such continuance is specifically
approved by a majority of the Board of Trustees, including a majority of the
Trustees who are not "interested persons," as defined in the Investment Company
Act of 1940, as amended, of the Trust and have no direct or indirect financial
interest in the operation of this Plan or in any Agreement
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related to this Plan (the "Disinterested Trustees") cast in person at a meeting
called for the purpose of voting on this Plan.
Section 5. This Plan may be amended at any time with respect to any Fund by
the Trust's Board of Trustees, provided that any material amendment of the terms
of this Plan (including a material increase of the fee payable hereunder) shall
become effective only upon the approvals set forth in Section 4.
Section 6. This Plan is terminable at any time with respect to any Fund by
vote of a majority of the Disinterested Trustees.
Section 7. While this Plan is in effect, the selection and nomination of
the Disinterested Trustees shall be committed to the discretion of such
Disinterested Trustees.
Section 8. The Trust will preserve copies of this Plan, Agreements, and any
written reports regarding this Plan presented to the Board of Trustees for a
period of not less than six years.
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EXHIBIT I
1. Nations Cash Reserves
2. Nations Treasury Reserves
3. Nations Municipal Reserves
4. Nations Government Reserves
5. Nations Tax-Exempt Reserves
6. Nations Money Market Reserves
7. Nations California Tax-Exempt Reserves
Approved: October 10, 2001
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